Thursday, February 13, 2020
Bill Fairman on Fund Expectations
What happens when you want your money out of a fund?
Bill Fairman shares how their system works.
Wendy and Bill launched their fund to afford investors the opportunity to invest in a fund that provides much-needed capital in an underserved but highly lucrative segment of the real estate market. Our target market will primarily consist of short term (less than one year) real estate investment loans with a construction component.
Our goal is to provide consistent, quality loans through our proven lending platform in one the fastest growing area’s in the country, North & South Carolina primarily, and surrounding states. We have been involved in real estate and real estate finance in the Carolinas for over 25 years and believe we have the experience necessary to successfully manage a fund and take advantage of current and future market cycles in order to return safe and consistent above-average yields for our investors
Chris Miles - Financial Independence Secrets of the Wealthy
Term versus Whole Life Insurance.
Not all whole life insurance is the same.
The stock market does not return as much as they say. It is 7%, not 10 or 11%. By investing for cashflow, Chris was able to retire when all his peers were forced to keep working.
Create a super-charged tax-free savings account. With Whole Life, you are making money in two spaces.
Reverse Purchase Money Mortgage gives you opportunity to multiply your earnings.
Chris Miles, the “Cash Flow Expert,” is a leading authority on how to quickly create cash flow and lasting wealth for thousands of his clients, entrepreneurs, and others internationally! He has been featured in US News, CNN Money, Bankrate.com, and has a high reputation for getting his client's life-altering financial results in his company, Money Ripples.
https://www.moneyripples.com
The Chris Miles Money Show
Glenn Stromberg Driving Wheel Estate Profits #13
Glenn Stromberg, Principal of Stromberg Investment Group, has over 30 years of experience in the real estate and housing market in Texas, North Carolina, and South Carolina. His hard-won experience and battle-tested systems set Stromberg Investment Group apart.
Today he joins Wendy Sweet and Bill Fairman.
His book, Private Lender Secrets, explains how private lenders and real estate investors can work together and create mutually beneficial partnerships.
Mobile homes are an underutilized market for real estate investing.
Double wide manufactured homes are his focus now.
He buys 10-15 properties a month. He finds them by asking marketers to pass over their mobile home leads. MLS and HubZoo are also sources of leads.
They use all Private Money investors to finance deals. They are 100% passive.
Once acquired, they rehab the properties. They get the house to new condition which pushes maintenance years down the road, and give tenants a place they are proud to live in.
They are competitors with apartments, except they have a yard and other advantages. Normally there is a line up of people who want to their mobile home on land.
To learn more about Glenn's company: https://www.stromberginvestmentgroup.com/
Mobile investing info:
https://mobilevested.com/
"Don't try to reinvent the wheel. Find someone who has the success you want, and model them" ~ Glenn Stromberg
Mission to Ensinada, Mexico #14
https://www.ywamsandiegobaja.org/
Bill Fairman went with 41 other entrepreneurs to Mexico recently to build two homes in two days. No plumbing, but they did wire them for electricity.
The children are always smiling and happy.
They rehabbed a hotel in Ensinada.
Youth With a MIssion - 18-20 year olds.
Every morning they met for breakfast and in the evening for dinner.
The land costs $1500 to $2000.
"What I thought were Problems, are really just annoyances." ~ Bill Fairman.
Frequently Asked Questions with Bill Fairman #15
What are Hard Money loans?
Non-Bank or non-conventional loans. Usually, there is a need for speed to close the deal and the homes are not usually in good shape.
They come with higher interest rates. The loans are interest-only so payments are lower. They are a higher risk loan.
Why should you use Hard money?
Speed has a lot to do with it. You can lose a deal if you are waiting for a bank approval.
What are the No-No's of real estate deals?
1) Never force a deal
2) This is a business decision, not an emotional decision
3) The deal must be a Win-Win for everyone
Owning a rental property worth the headache?
There is no guarantee the house will go up in value short term. Rentals are for cashflow.
What are rookie mistakes people often make?
1) Pay too much for the house.
2) What it will rent for
3) Understanding rehab costs
What is the saddest thing you've seen in a vacant home?
Family photos, awards left behind.
What would make you walk away?
If it is not a good deal/ If there looks like fraud or dishonesty.
Are Zillow estimates accurate?
Not as accurate as a regular appraisal but it gives a good ballpark estimate.
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